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Company name

Banco Bilbao Vizcaya Argentaria Colombia S.A.

Project number

14787-01

FI-2 operations are those where the risk potential is considered medium: the FI’s current or future portfolio consists of or is expected to consist of, business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures; or includes a very limited number of business activities with potential adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented.

E&S category
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FI-2

Country

Colombia

Sector

Financial Institutions

Status

Proposed

Disclosed date

06/27/2024

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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07/31/2024

Approval date

07/29/2024

Signed date

09/23/2024

Sponsoring entity

N/A

Investment Operations Department Contact

Portfolio Management Division

Investment type

Syndicated amount

N/A

Financing amount

USD $ 35,000,000

Currency

USD

Project scope and objective

The project consists of providing support to Banco Bilbao Vizcaya Argentaria Colombia S.A. (“BBVA Colombia”), in the issuance of the first green biodiversity bond in the world. The bond issued in the international capital market will be for up to US$70 million, with a three-years tenor. BID Invest will act as a co-investor with a subscription for a total amount of up to US$35 million and the International Finance Corporation (“IFC”) will also participate as a co-investor, with a total amount of up to US$35 million. The financing aims to expand the portfolio of green projects related to biodiversity in Colombia.

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Environmental and social review

IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.

BBVA CO - BIODIVERSITY BOND -14787-01-CO - ENVIRONMENTAL AND SOCIAL REVIEW ESRS SDG

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

bbvacolombia-ir@bbva.com

PHONE NUMBER

+57 3168744656

POST OFFICE ADDRESS

Carrera 9 #72-21 / Piso 11 - Bogota, Colombia

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

For inquiries, comments and information requests about the project

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Learn more about how we provide private-sector solutions in the region .